India on 29 August 2014 signed loan agreement with World Bank for Mizoram State Roads Project (MSRP II). As per the agreement, soft loan window of World Bank, International Development Agency (IDA) will provide assistance of 107 million US dollars for the Project.
The agreement was signed by Nilaya Mitash, Joint Secretary (MI), Department of Economic Affairs and Onno Ruhl, Country Director, World Bank, India.
The objective of the project is to enhance transport connectivity along regional trade corridors in Mizoram.The project will focus on improvement of priority cross-border roads connecting Myanmar and Bangladesh , as also on trade related infrastructure.
Thus, the MSRPII will be an important milestone in enhancing the connectivity for the state of Mizoram and the rest of North-East India with Myanmar and Bangladesh.
The project is the first project facilitating regional connectivity in transport sector undertaken in India with Bank support.
Who: India and World Bank
When: 29 August 2014